Vancouver, British Columbia – March 30, 2023 – GeneTether Therapeutics Inc. (“GeneTether” or the “Company”) (CSE: GTTX) is pleased to provide an update from the CEO.
I hope this update finds you well. As I’ve recently mentioned, we have made the decision to scale back development of our patented GeneTether™ platform technology and explore strategic alternatives that will optimize shareholder value. This decision has been mainly driven by the current state of the global capital markets, which are experiencing persistent weakness.
Even with our disciplined approach to preserving cash and optimizing our cash runway, we have made important progress. I am pleased to announce two noteworthy discoveries that I believe will be advantageous as we explore strategic alternatives:
- We recently received the results of a series of experiments conducted by a highly specialized contract research organization that confirm the efficacy of our GeneTether technology in binding Lacl-Cas9 fusion proteins to template DNA. This validation specifically highlights the high level of template binding efficiency of our GeneTether™ platform, which is a crucial component of our strategy to enhance gene editing efficiency.
- Our cell-based experiments, conducted internally as well as by third parties, confirm that a GeneTether LacI-Cas9 fusion protein retains the ability to recognize and cut DNA when compared to unmodified Cas9. These studies were performed using several cell types and gene targets.
As a reminder, our innovative, proprietary platform technology has shown to significantly increase the efficiency of DNA insertion into the genome. We believe that our technology, which showed a 7x higher gene editing efficiency in our proof-of-concept study, applies to most gene correction/gene complementation strategies, regardless of organ or disease. This creates numerous opportunities to partner with other gene editing companies that are focused on gene correction and complementation.
We have a very strong IP portfolio that is wholly-owned and is comprised of composition of matter patents with broad claims. In May 2022, we received our patent in the U.S. (expected expiry of July 2040), which significantly strengthened our intellectual property portfolio. Further, the broad claims are not limited to any particular nuclease. They provide protection for the GeneTether™ platform technology as it relates to Cas nucleases, such as Cas9, but also other nucleases, including TALENs, meganucleases, and zinc finger nucleases (ZFN). This is really exciting as it reinforces the commercial potential for GeneTether, both internally and with potential collaborators.
In addition to the patents currently issued in the U.S. and Australia, GeneTether has several pending patent applications, including for compositions comprising alternate DNA binding domains. I’m pleased to say that these patent applications in jurisdictions such as Europe, China and Canada are all progressing as planned and that we will keep you updated on any material developments concerning them.
In conclusion, I want to express my gratitude to all the shareholders of GeneTether for your support, and I am looking forward to keeping you all informed of our progress.
For the most recent corporate presentation, visit www.genetether.com.
Founded by EGB Ventures founder and managing partner, William J. Garner, M.D., and veteran gene editing researcher, R. Geoffrey Sargent, Ph.D., GeneTether is focused on developing its disruptive proprietary platform technology to significantly increase the efficiency of DNA insertion into the genome for gene correction and complementation strategies. The Company’s wholly-owned GeneTether™ platform technology uses a proprietary method to “tether” donor DNA templates to the genome editing complex, making the template readily available for use during the genome editing repair stage. The Company is leveraging its platform technology to develop curative therapies for the treatment of rare genetic diseases. GeneTether’s proof of concept study demonstrated an approximately 7x higher gene editing efficiency as compared to the same gene editing payload without application of the GeneTether technology.
For more information, visit www.genetether.com.
Roland Boivin, CEO
(833) 294-4363 ext. 1
Jean Jen, CFO and Corporate Secretary
(833) 294-4363 ext. 2
This news release contains statements that constitute “forward-looking statements.” Such forward looking statements involve known and unknown risks, uncertainties and other factors that may cause GeneTether’s actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects,” “plans,” “anticipates,” “believes,” “intends,” “estimates,” “projects,” “potential” and similar expressions, or that events or conditions “will,” “would,” “may,” “could” or “should” occur.
Forward-looking statements in this document include the expectation that the Company will develop collaboration opportunities, the expectation that the GeneTetherTM platform technology applies to most gene correction/gene complementation strategies regardless of organ or disease, s and all other statements that are not statements of historical fact.
Although GeneTether believes the forward-looking information contained in this news release is reasonable based on information available on the date hereof, by their nature forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. By their nature, these statements involve a variety of assumptions, known and unknown risks and uncertainties and other factors, which may cause actual results, levels of activity and achievements to differ materially from those expressed or implied by such statements.
Examples of such assumptions, risks and uncertainties include, without limitation, assumptions, risks and uncertainties associated with the global COVID-19 pandemic; general economic conditions; adverse industry events; future legislative and regulatory developments; the Company’s ability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favorable terms; the ability of GeneTether to implement its business strategies; competition; the ability of GeneTether to obtain and retain all applicable regulatory approvals and other assumptions, risks and uncertainties, including those set forth under the heading “Risk Factors” in the Company’s final prospectus dated March 21, 2022.
THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS NEWS RELEASE REPRESENTS THE EXPECTATIONS OF THE COMPANY AS OF THE DATE OF THIS NEWS RELEASE AND, ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCH DATE. READERS SHOULD NOT PLACE UNDUE IMPORTANCE ON FORWARD-LOOKING INFORMATION AND SHOULD NOT RELY UPON THIS INFORMATION AS OF ANY OTHER DATE. WHILE THE COMPANY MAY ELECT TO, IT DOES NOT UNDERTAKE TO UPDATE THIS INFORMATION AT ANY PARTICULAR TIME EXCEPT AS REQUIRED IN ACCORDANCE WITH APPLICABLE LAWS.
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